The Committee of the Regions has urged the European Union to support cities and regions in increasing the contribution of bio-based industries to the economy, including through public procurement. Adopted at its plenary session in Brussels on 11 May, the opinion highlights the role the bio-economy could play in fostering independence from fossil fuels, and particularly how cities and regions as "biocommunities" and "bioregions" can be to the forefront of this strategy.
Identifying the EU's financial support of €3.85 billion to research and development in the bioeconomy, the Committee of the Regions agreed that additional market incentives, risk reduction and regulatory harmonisation are needed to assist the growth of the bio-based products sector. In particular, it proposes that innovation around the use of existing financial instruments would be required to boost investment in biotechnologies.
The opinion also recommends that Member States and EU cities and regions favour bio-based materials in their public procurement processes, which could help foster the shift from fossil fuels and towards carbon neutrality.
For more information, visit the Committee of the Regions website.